The marketing strategy will present consumers with a line of fine quality imported or domestic foods or products. The marketing strategy will also include the introduction of a loyalty program in which will reward consumers with perks and savings for their continued support. In order to create such a program that will become popular with consumers, data will need to be collected and analyzed. This is where the marketing department will be spending a lot of time on. The expansion of the company will require additional market research in interested regions.
According to Pearce and Robinson (2011) by thoroughly developing and exploiting its expertise in a narrowly defined competitive arena, the company achieves superiority over competitors that try to master a greater number of product and market combinations. As stated in their Declaration of Interdependence: “Whole Foods Market is a dynamic leader in the quality food business. We are a mission-driven company that aims to set the standards of excellence for food retailers. We continually experiment and innovate in order to raise our retail standards”(Whole Foods Market, 2012). Through identified niche markets, WFM can leverage some of their customary strong points by recognizing innovated uses for current goods using market penetration.
As in any company, it has a set of strategies for each element to obtain the greater one. Growth and location are major strategies within Whole Foods. To be the provider of “the Whole Planet”, it needs to find ways to grow as a company as a whole as well as it’s locations. They are doing this by acquiring and procuring premier real estate sites in high traffic areas of higher metropolitan areas. By doing this, they are able to appeal to the higher educated populous and draw some appeal from the surrounding areas.
Marketing Research Paper By; University of Phoenix Instructor: MKT421 This paper will talk about Kudler Fine Foods and how important it is to have marketing research as it deals with strategies and tactics. I will also identify where additional market research is needed. Finally, I will discuss the importance of competitive intelligence and analysis in regards to the creation of Kudler Fine Foods. Kudler Fine Foods is a local high class of specialty food store located San Diego, California. The company has three locations (La Jolla, Del Mar and Encinitas).
To keep their passion for the company offers their employees flexible schedules, benefits and profit sharing, just to name a few. Focusing on serving special needs and tastes – Whole Foods sells natural and organic food products which represents a small percentage of the entire U.S. grocery store sales (less than 8%). This is a niche market that is growing rapidly. To expand their growth they felt this should be done via several small acquisitions in order to breakthrough those desirable markets they are after. 2.
The distribution networks of the new companies are high and tends to affect the operations of JCP. Therefore, the company should build a strong distribution network so as to counter significantly the operations of the new companies that produce similar products. The “mom and pop” stores have been reported to resort in selling products online, otherwise they become obsolete. J. C. Penny’s SWOT analysis The strengths of the company are: * The existence of more than 1100 locations worldwide * Their quality products such as clothing, jewellery, beauty products and even footwear and furniture * The company also offers shipment of their goods for customers, which gives their customers the best experience in the end, hence attracts more customers. * The company also offers free haircuts for the children The weaknesses of JCP Since its competitors give similar products, the company is faced with limited market share 2. International business operations have also challenged the services of JCP due to the current emerging economies worldwide.
JJB aims to offer its large selection of high quality coffee products and fresh baked goods products at a competitive price to meet the demand of the middle-to higher-income local market area residents and tourists at all times during operating hours. I feel that as a developing business it is very important that you are well aware of the type of clientele you will be serving and adjust your services and or prices accordingly. For instance the fact that this business is designed to meet the demand of middle-to higher-income clientele it would not be beneficial or appropriate for the business to be located in an area where people with lower incomes reside. Amongst the many strengths JJB possesses the very first strength can be found in the financing. The owners have each used $55,000 of their personal savings, for a total of $110,000.
Well informed buyers with a great deal of bargaining power is affecting the non-alcoholic beverage industry by their ability to drive down prices by making competitors fight for the best price or service so the buyer will choose their product. This contributes to one of the industries key success factors, price. Price is a key factor because consumers who have not got a preferred brand will select the product with the most competitive price. This factor makes branding more important. If the company can build relationship between the brand and customer, the company will get the competitive advantage because the customer will look for the brand, not the cheapest price.
When a company drives the prices so low and gets rid of competition and then raises prices, other companies will come along with lower prices to beat out the higher prices (Garg, 2011). Discriminatory pricing is charging different prices for the same product to different customers (Horngren, 2011). One would wonder why companies would practice such an offense. If we think about our everyday lives there are many instances where
This misalignment was due to the fact that the technology would reduce the need for more base stations and ATT sales people were paid on the number of base stations sold. ISC would be powerless to motivate the sales force. Factors that favored the aftermarket decision include the fact that in the long term, these customers would be the ultimate adopters of the technology. In turn, these customers could demand that OEM install ISC’s products. While ISC would need to train and use their sales force and provide servicing, they would at least have control over the customer interaction from beginning to end.